At the end of June 2017, Micron announced the official closure of the Lexar storage device brand, and the production and sales of its memory cards, flash drives, card readers and other storage devices will also be stopped. At the time, some analysts analyzed that the reason was because Lexar's profits were not high enough.

Lexar was declared bankrupt after being abandoned by Micron. Since then, there has been little news from Lexar in the industry until it was later discovered that Lexar was acquired by a Chinese company. The company that acquired Lexar is Longsys Electronics, based in Shenzhen, China, founded in 1999, it is a company dedicated to the development and production of NAND flash applications.

According to report, the acquired Lexar will operate as an independent brand with its headquarters in San Jose, Silicon Valley, USA. Recently, Lexar also issued a notice on its official website that it will resume production and supply of full-line flash memory products, including memory cards, card readers, USB flash drives and SSDs, but currently there is no clear information for specific product line planning.